Press Release
Karachi, Pakistan – 06 June 2022: HBL, the largest commercial bank in Pakistan, launched its first Impact and Sustainability Report for 2021. The report outlines HBL’s institutional interventions, to serve the needs of the communities, people and the planet.
Highlights of the Report:
- HBL approved the “No new coal” policy in 2020
- The Bank aims to achieve net-zero carbon emissions by 2030.
- Chairman HBL has announced to increase HBL’s philanthropic funding to 1.5% of Bank’s profit after tax from 2023
- HBL Foundation granted over Rs. 2.7 billion to healthcare, education, and community development programs in a decade, impacting more than 9 million lives
- HBL powered Ehsaas Kafalat Program disbursed Rs. 175 billion to more than 4.3 million underserved women across Pakistan
- Pakistan’s largest bank funded Rs. 240 million in support of communities, employees, and their families during Covid-19 pandemic.
The Bank is committed to sustainable development and promoting high levels of Environmental, Social, and Governance (ESG) practices in the banking industry. HBL has put in place a set of practices that help it to take better and more informed decisions about measuring performance and continually improving the well-being of people and the planet. All the businesses, investments and operations are designed strategically to create a more sustainable, equitable, and financially inclusive world where the present population can meet their needs without borrowing or depleting the resources of future generations.
HBL’s vision is focused on improving people’s quality of life, and thus plays a conscious role in Pakistan’s financial ecosystem. Above all, the Bank understands the impact that it creates, its responsibility to the people of Pakistan and the environment at large.
HBL’s Impact and Sustainability measurement and management enables the Bank to optimize programs and contribute to protecting the country’s resources.
Sultan Ali Allana, Chairman – HBL, commenting on the report said, “I am delighted to share the first Impact and Sustainability Report of HBL. We at HBL believe that it is incumbent upon us, being a part of the Aga Khan Fund for Economic Development (AKFED), to embody the key value of maintaining a balance between what we do and what we share. Our wide outreach across the country enables us to keep a finger on the pulse of society. It is for this very reason that our spending on social and developmental causes is the highest in the industry and certain sectors of the country. We consider ourselves to be a bank with a soul.
For over 10 years, we have been supporting a wide array of projects both in the private and the public sector, with a particular focus on health and education through the HBL Foundation. We hope this report will serve to remind us all that we are who we are because we have been fortunate to receive what has been graced upon us by Allah. It is therefore imperative for us to give what we can for the betterment of those who need it the most.”
The full Impact and Sustainability Report 2021 and further details on HBL’s Sustainability strategy are available on the website: www.HBL.com/sustainability.